12 May LEAF to enable Rs 500 crore credit to marginalised tribal farmers to tide over COVID-19 crisis
LEAF, an integrated agri-service provider, said it is aligning with new-age financial technology non-banking financial companies (NBFC) to funnel in the much-needed organised credit for the marginalised farmers.
Lawrencedale Agro Processing India (LEAF), on Wednesday said it is bringing in Rs 500 crore worth of organised cost-effective credit to marginalised small land-hold and tribal farmers to overcome the COVID-19 crisis. LEAF, an integrated agri-service provider, said it is aligning with new-age financial technology non-banking financial companies (NBFC) to funnel in the much-needed organised credit for the marginalised farmers.
Marginalised farmers in remote locations of Western and Eastern Ghats in South India do not have easy access to organised support.
LEAF Founder and Chief Executive Officer Palat Vijayaraghavan, in a statement, said marginalised farmers are struggling to harvest the standing crops amid shortage of farming labour. Compounding this is the restricted functioning of wholesale markets, due to which farmers are fearing the worst.
“We are addressing these challenges by organising farming labour with all safety protocols and liquidating the aggregated harvest, on behalf of farmers, in large wholesale markets,” he said in a statement.
The company is ensuring farm inputs, through organised credit, is reaching the farm gates across remote regions of Western and Eastern Ghats, he said.
“After the harvest is liquidated, the farm has to be tended to and prepared for the next crop. Access to farming inputs – enriching soil, seeds, crop protection and crop nutrition are hard to come by during these times,” he added.
Besides this, LEAF is setting up 25 Farmer Service Centre across locations that have a large concentration of tribal and marginalised farmers. These Centres managed by LEAF’s team of professional agronomists will work with the farmers in the entire life-cycle of the harvest and ensure that their efforts are getting better results.
The Tamil Nadu-based is also deploying impactful technology at these Farmer Service Centres to bring in significant transparency to the farming ecosystem, the statement added.